Nigeria has a worrisome deficit in housing, which as at 2012, was estimated at a minimum of 17 million units. Recently, the figure was raised and, according to experts, it could be up to 20 million units, if a proper investigation of the state of affairs in the sector was undertaken. Interestingly Sterling Bank Plc., has been playing significant financing role on both the demand and supply side of the housing sector, designed to contribute to a reduction of the deficit. Bennett Oghifo writes
Majority of Nigerians live in blighted and unplanned areas that are unfit, and some are unfit for human habitation, and most of these communities are in cities. Some housing experts argue that the deficit in the 2012 report of the World Bank was as a result of these unplanned communities like Lekki, which, though have beautiful homes, but was not documented as livable because of the unplanned environment.
Recently, stakeholders met in Abuja at a housing show where awards were presented to firms and individuals that contribute to the development of the nation's housing sector. Sterling Bank Plc., was one of the institutions that stood out with an award, distinguishing it as the Housing Friendly Commercial Bank of the Year.
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